ValuEngine lowered shares of Consolidated Edison (NYSE:ED) from a hold rating to a sell rating in a research note released on Wednesday morning.

Several other research analysts also recently weighed in on ED. UBS Group upped their price target on Consolidated Edison from $83.00 to $84.00 and gave the stock a neutral rating in a research note on Friday, September 21st. Morgan Stanley dropped their price target on Consolidated Edison from $81.00 to $77.00 and set a sell rating for the company in a research note on Friday, September 21st. Wells Fargo & Co upped their price target on Consolidated Edison from $81.00 to $83.00 and gave the stock a market perform rating in a research note on Monday, September 17th. Zacks Investment Research upgraded Consolidated Edison from a hold rating to a buy rating and set a $90.00 price target for the company in a research note on Wednesday, September 12th. Finally, Scotiabank began coverage on Consolidated Edison in a research note on Tuesday, July 24th. They issued a sell rating and a $32.00 price target for the company. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $77.56.

NYSE ED opened at $74.41 on Wednesday. The stock has a market cap of $23.55 billion and a PE ratio of 18.19. Consolidated Edison has a 52 week low of $71.12 and a 52 week high of $89.70. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.97.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.64 billion. Consolidated Edison had a net margin of 12.90% and a return on equity of 8.52%. During the same period in the prior year, the firm posted $0.58 EPS. sell-side analysts forecast that Consolidated Edison will post 4.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, August 15th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $2.86 annualized dividend and a yield of 3.84%. Consolidated Edison’s payout ratio is presently 69.93%.

A number of large investors have recently added to or reduced their stakes in the stock. Autus Asset Management LLC increased its stake in Consolidated Edison by 0.9% in the second quarter. Autus Asset Management LLC now owns 70,652 shares of the utilities provider’s stock worth $5,509,000 after purchasing an additional 656 shares during the period. Laurel Wealth Advisors Inc. increased its stake in Consolidated Edison by 1.3% in the second quarter. Laurel Wealth Advisors Inc. now owns 51,327 shares of the utilities provider’s stock worth $4,002,000 after purchasing an additional 662 shares during the period. Howe & Rusling Inc. increased its stake in Consolidated Edison by 58.4% in the second quarter. Howe & Rusling Inc. now owns 1,804 shares of the utilities provider’s stock worth $141,000 after purchasing an additional 665 shares during the period. Union Bankshares Corp increased its stake in Consolidated Edison by 17.5% in the second quarter. Union Bankshares Corp now owns 4,584 shares of the utilities provider’s stock worth $357,000 after purchasing an additional 684 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Consolidated Edison by 6.0% in the first quarter. Moors & Cabot Inc. now owns 13,312 shares of the utilities provider’s stock worth $1,038,000 after purchasing an additional 757 shares during the period. Institutional investors own 58.57% of the company’s stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,600 customers in parts of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

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